Federated Hermes Inc. Sells 91,218 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Federated Hermes Inc. reduced its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 32.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 187,183 shares of the restaurant operator’s stock after selling 91,218 shares during the quarter. Federated Hermes Inc.’s holdings in Texas Roadhouse were worth $22,879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Red Spruce Capital LLC lifted its position in Texas Roadhouse by 0.5% during the fourth quarter. Red Spruce Capital LLC now owns 22,359 shares of the restaurant operator’s stock valued at $2,733,000 after purchasing an additional 110 shares during the period. Avior Wealth Management LLC lifted its holdings in shares of Texas Roadhouse by 3.2% during the 4th quarter. Avior Wealth Management LLC now owns 3,579 shares of the restaurant operator’s stock valued at $437,000 after buying an additional 111 shares during the period. Metropolitan Life Insurance Co NY lifted its holdings in shares of Texas Roadhouse by 3.1% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 4,121 shares of the restaurant operator’s stock valued at $375,000 after buying an additional 124 shares during the period. First Republic Investment Management Inc. boosted its stake in shares of Texas Roadhouse by 0.8% in the 1st quarter. First Republic Investment Management Inc. now owns 16,561 shares of the restaurant operator’s stock worth $1,790,000 after buying an additional 124 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Texas Roadhouse by 35.8% in the third quarter. Fifth Third Bancorp now owns 474 shares of the restaurant operator’s stock worth $46,000 after acquiring an additional 125 shares during the period. 94.82% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Texas Roadhouse

In related news, insider Christopher C. Colson sold 405 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $149.05, for a total value of $60,365.25. Following the sale, the insider now owns 8,500 shares in the company, valued at $1,266,925. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Christopher C. Colson sold 405 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $149.05, for a total transaction of $60,365.25. Following the sale, the insider now directly owns 8,500 shares in the company, valued at approximately $1,266,925. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Curtis Warfield sold 2,365 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $148.68, for a total transaction of $351,628.20. Following the completion of the transaction, the director now directly owns 13,397 shares of the company’s stock, valued at approximately $1,991,865.96. The disclosure for this sale can be found here. Insiders have sold 12,382 shares of company stock valued at $1,843,145 in the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on TXRH. Northcoast Research downgraded Texas Roadhouse from a “buy” rating to a “neutral” rating in a report on Tuesday, February 20th. Truist Financial raised their price objective on shares of Texas Roadhouse from $152.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Benchmark started coverage on shares of Texas Roadhouse in a report on Wednesday, April 10th. They set a “hold” rating for the company. Morgan Stanley lifted their price target on shares of Texas Roadhouse from $135.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Friday, April 12th. Finally, Piper Sandler upped their price objective on Texas Roadhouse from $110.00 to $136.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 20th. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $136.05.

Texas Roadhouse Stock Performance

TXRH stock opened at $150.73 on Monday. The company has a market capitalization of $10.07 billion, a PE ratio of 33.27, a price-to-earnings-growth ratio of 1.65 and a beta of 0.99. The company’s fifty day moving average price is $149.29 and its 200-day moving average price is $125.58. Texas Roadhouse, Inc. has a one year low of $91.06 and a one year high of $157.12.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings data on Thursday, February 15th. The restaurant operator reported $1.08 EPS for the quarter, beating the consensus estimate of $1.07 by $0.01. Texas Roadhouse had a net margin of 6.58% and a return on equity of 27.43%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the firm earned $0.89 EPS. The business’s revenue was up 15.3% on a year-over-year basis. On average, research analysts predict that Texas Roadhouse, Inc. will post 5.74 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 13th were paid a $0.61 dividend. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $2.44 dividend on an annualized basis and a yield of 1.62%. Texas Roadhouse’s payout ratio is presently 53.86%.

Texas Roadhouse Profile

Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. It also operates and franchises restaurants under the Texas Roadhouse, Bubba's 33, and Jaggers names in 49 states and ten internationally. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.